This business/management problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.
ScanSolve AI Answer
You're on a roll — Step 1: Solve 1.1.1 The acronym VAT stands for Value Added Tax. Step 2: Solve 1.1.2 Four items a rugby player should have for own protection, other than those mentioned, are: • Mouthguard • Headguard • Shoulder pads • Groin protector Step 3: Solve 1.1.3 First, calculate the total cost per player excluding VAT. Then, add 15% VAT (standard rate in South Africa). Cost per player (excluding VAT): Rugby shirt, trouser, socks = R3\,999.00 Rugby boots = R1\,299.95 Shin guards = R350.00 Total excluding VAT = R3\,999.00 + R1\,299.95 + R350.00 = R5\,648.95 Now, calculate the total amount including 15% VAT: Total including VAT = R5\,648.95 × (1 + 0.15) Total including VAT = R5\,648.95 × 1.15 Total including VAT = R6\,496.2925 Rounding to two decimal places: Total including VAT = R6\,496.29 The total amount (including VAT) he would spend on each player is R6\,496.29. Step 4: Solve 1.1.4 Determine the total number of players and calculate the total cost for their kits. Number of in-field players = 15 Number of out-field players = 5 Total number of players = 15 + 5 = 20 players. Total cost for 20 players (including VAT): Total cost = 20 × R6\,496.2925 Total cost = R129\,925.85 Compare this to the budgeted amount of R139 999: Since R129\,925.85 < R139\,999, the budgeted money is sufficient. The assumption is correct. Step 5: Solve 1.1.5 Calculate the VAT amount on the price of rugby boots. Price of rugby boots (excluding VAT) = R1 299.95 VAT rate = 15% VAT amount on rugby boots = R1\,299.95 × 0.15 VAT amount on rugby boots = R194.9925 Rounding to two decimal places: VAT amount on rugby boots = R194.99 The VAT amount on the price of rugby boots is R194.99. Step 6: Solve 1.2.1 The acronym UIF stands for Unemployment Insurance Fund. Step 7: Solve 1.2.2 Calculate Sipho's monthly UIF contribution. Gross annual salary = R114 000 Gross monthly salary = R114\,00012 = R9\,500 UIF contribution is typically 1% of the gross monthly salary. Monthly UIF contribution = 1\% × R9\,500 Monthly UIF contribution = 0.01 × R9\,500 Monthly UIF contribution = R95.00 Sipho's monthly UIF contribution is R95.00. Step 8: Solve 1.2.3 UIF is important for workers for the following two reasons: • It provides temporary financial relief to workers who become unemployed, helping them cover basic living expenses while seeking new employment. • It offers social security benefits such as maternity leave benefits, adoption leave benefits, and illness benefits, ensuring income protection during specific life events. Send me the next one 📸